Nalcor, Emera Agree on C$6.2 Billion Power Project
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Nalcor Energy and Nova Scotia’s Emera Inc. agreed to invest C$6.2 billion ($6.1 billion) in a hydroelectric project to ship power from Labrador’s Lower Churchill River to customers in eastern Canada and New England.
Nalcor, which is owned by the province of Newfoundland and Labrador, will build a C$2.9 billion, 824-megawatt generating facility, Jennifer Nicholson, a spokeswoman for Emera, said today in a telephone interview from Halifax, Nova Scotia. The companies will also build transmission cables linking Labrador with the island of Newfoundland and Nova Scotia at a cost of C$3.3 billion, Emera said in a statement.